India's Varun Beverages rises as PhillipCapital initiates with 'buy' rating; shares rise

PEP•2026-10-05

PhillipCapital initiated coverage of Varun Beverages with a 'buy' rating and a 560-rupee target price. Shares rose 1.7% to 432.55 rupees.

1. Brokerage initiates coverage

PhillipCapital said Varun Beverages could benefit from market opportunities, product innovation and its distribution network. It cited the company's newer categories, including zero-sugar soft drinks, energy, sports and milk-based drinks, and said its KIVA Spirits, Asahi alliance in India and Carlsberg tie-up in Africa offer optionality yet to be priced in.

India's Varun Beverages rises as PhillipCapital initiates with 'buy' rating; shares rise

1. Brokerage initiates coverage

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